The study reveals a striking paradox: Greece has one of the largest housing volumes per capita in the European Union, but access to affordable apartments is steadily deteriorating. According to the 2021 census conducted by the Hellenic Statistical Office, approximately 34% of Greek homes are empty. However, the researchers warn that not all of these properties can be immediately put on the market.
Between 2011 and 2021, the total housing stock increased by 3.5%, but the number of properties available for long-term rental decreased by 10.4%, and the number of homes for sale fell by 33.1%. During the same period, the number of empty houses increased from 1.71 million to 1.81 million. Many of these facilities remain off the market due to unresolved inheritance disputes, poor technical condition, low energy efficiency, and other legal and technical obstacles.
The study showed that if the vacancy rate returned to 2001, real house prices could decrease by 15.5% to 24.6% over six years.
The authors warned that subsidizing demand without a corresponding increase in supply could lead to even greater price increases. They proposed a five-point program: settlement of inheritance and cadastral disputes; introduction of tax incentives for long-term rentals; subsidizing repairs if the facility enters the long-term rental market; regulation of short-term rentals in areas with high demand; and acceleration of new construction through simplification of permit procedures and land use reform.
Source: Ekathimerini
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